Author: Jane Edwards|| Date Published: December 2, 2019
Tiger Midco, an affiliate of funds managed by alternative investment manager Apollo Global Management™s (NYSE: APO) affiliates, has increased its offer to acquire information technology distribution company Tech Data (Nasdaq: TECD) from $130 in cash per share to $145 per share, or approximately $6B, under an amended deal.
Tech Data agreed to sign an amendment to a previously announced deal with Tiger Midco after the latter moved to raise its takeover offer in response to a proposal submitted by another bidder, Apollo said Wednesday.
The amended deal reflects an increase of 11.5 percent in the price per share of Tech Data™s common stock as stated in the original agreement announced in mid-November.
Tech Data™s board unanimously cleared the transaction, which is expected to be completed in the first half of calendar year 2020, subject to approvals by shareholders, antitrust and foreign regulators and other customary closing conditions.
The revised deal allows Tech Data to continue to solicit offers from interested buyers through Dec. 9.
Bank of America Securities advises Tech Data on the transaction™s financial aspect, while Cleary Gottlieb Steen & Hamilton LLP serves as legal counsel.
Brian Meyer, federal field chief technology officer at Axonius Federal, said cybersecurity asset management could help government agencies make dozens…
“Technology transformation company Red River has acquired Invictus International Consulting to expand its cybersecurity and enterprise modernization capabilities to support…
Synergy ECP, a software engineering, cybersecurity and systems engineering services provider, has acquired NetServices, a company offering secure, mission-focused technology services. The…
Precision Aerospace & Defense Group and FACT II Acquisition, a special purpose acquisition company, have signed a definitive business combination agreement to…
LMI has announced the acquisition of intellectual property and advanced capabilities to broaden its in-transit visibility and asset tracking services for…
